\begin{tabular}{lcccc} \hline
 & (1) & (2) & (3) & (4) \\
 &  & Affil. att. &  & Affil. att. \\
VARIABLES & Affil. att. & excl. AQ & Affil. att. & excl. ISIS \\ \hline
 &  &  &  &  \\
t & 0.487* & 0.283 & 0.151 & 0.0978 \\
 & (0.272) & (0.340) & (0.103) & (0.0913) \\
t+1 & 0.106 & -0.194 & 0.0338 & -0.0155 \\
 & (0.279) & (0.354) & (0.104) & (0.0920) \\
t+2 & 0.498* & 0.370 & 0.0186 & -0.0423 \\
 & (0.274) & (0.346) & (0.104) & (0.0921) \\
t+3 & 0.327 & 0.0105 & 0.213** & 0.139 \\
 & (0.273) & (0.340) & (0.106) & (0.0937) \\
t+4 & 0.465* & 0.250 & 0.189* & 0.120 \\
 & (0.280) & (0.342) & (0.108) & (0.0956) \\
t+5 & 0.342 & 0.280 & 0.0138 & -0.0548 \\
 & (0.272) & (0.336) & (0.106) & (0.0942) \\
t+6 & 0.608** & 0.661* & 0.163 & 0.0707 \\
 & (0.273) & (0.353) & (0.102) & (0.0906) \\
 &  &  &  &  \\
Observations & 1,577 & 1,445 & 3,312 & 3,168 \\
R-squared & 0.857 & 0.830 & 0.657 & 0.706 \\
Model & Gr.-mnth & Gr.-mnth & Affil.-mnth & Affil.-mnth \\
Group FE & YES & YES & NO & NO \\
Period FE & YES & YES & YES & YES \\
Affiliate FE & NO & NO & YES & YES \\
Prob $>$ F lags hit & 0.1798 & 0.1980 &  &  \\
Prob $>$ F leads hit & 0.4739 & 0.6705 &  &  \\
Prob $>$ F lags targeted & 0.6953 & 0.3656 &  &  \\
Prob $>$ F leads targeted & 0.3860 & 0.4844 &  &  \\
Control mean & 3.1340 & 3.1340 & 0.5760 & 0.5497 \\
Prob $>$ F lags parent hit &  &  & 0.0450 & 0.0903 \\
Prob $>$ F leads parent hit &  &  & 0.7786 & 0.4320 \\
Prob $>$ F lags parent targeted &  &  & 0.8416 & 0.9638 \\
Prob $>$ F leads parent targeted &  &  & 0.9658 & 0.7308 \\
Prob $>$ F lags affil. hit &  &  & 0.1297 & 0.0823 \\
 Prob $>$ F leads affil. hit &  &  & 0.2087 & 0.1173 \\ \hline
\multicolumn{5}{c}{ Newey-West standard errors in parentheses} \\
\multicolumn{5}{c}{ * p$<$0.1 ** p$<$0.05 *** p$<$0.01} \\
\end{tabular}
